Sone Capital Management LLC Purchases Shares of 2,133,631 Standard BioTools Inc. $LAB

Sone Capital Management LLC purchased a new position in shares of Standard BioTools Inc. (NASDAQ:LAB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,133,631 shares of the company’s stock, valued at approximately $1,755,000. Sone Capital Management LLC owned 0.54% of Standard BioTools as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cibc World Markets Corp purchased a new position in Standard BioTools during the fourth quarter valued at approximately $25,000. Aigen Investment Management LP purchased a new stake in Standard BioTools in the 4th quarter worth approximately $28,000. M&T Bank Corp acquired a new stake in shares of Standard BioTools during the 4th quarter worth approximately $31,000. EntryPoint Capital LLC purchased a new position in shares of Standard BioTools during the 4th quarter valued at approximately $31,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Standard BioTools by 2,989.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 25,021 shares of the company’s stock valued at $33,000 after purchasing an additional 24,211 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

Standard BioTools Stock Performance

NASDAQ:LAB opened at $0.65 on Tuesday. The stock has a market capitalization of $255.18 million, a PE ratio of 2.95 and a beta of 1.40. The company has a fifty day moving average of $0.81 and a two-hundred day moving average of $0.94. Standard BioTools Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $1.72.

Standard BioTools (NASDAQ:LAB) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). Standard BioTools had a net margin of 100.36% and a negative return on equity of 7.57%. The company had revenue of $20.10 million during the quarter, compared to analysts’ expectations of $20.80 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Standard BioTools from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $1.35.

Standard BioTools Company Profile

Standard BioTools, Inc (NASDAQ: LAB), formerly known as Fluidigm Corporation, is a life sciences tools company that develops and commercializes high-parameter, single-cell and spatial biology solutions. The company’s platforms integrate microfluidics, mass cytometry, sequencing and imaging to enable researchers to probe cellular heterogeneity, molecular interactions and complex tissue architecture. Its end users span academic institutions, pharmaceutical and biotechnology companies worldwide.

The company’s flagship products include mass cytometry systems—such as the Helios and Hyperion Imaging System—for multiplexed protein analysis at single-cell resolution, and the Chromium-style single-cell genomic tools for high-throughput gene expression profiling.